Account Protector

[Enivid]

Good day -

Need help with settings. Not sure which one to select. I am using a prop firm so my % loss cannot be more than 4%. So that is one setting, the other setting is once I reach profit of $100.00, the EA will disable autotrading. So for the 4% and $100.00, which two conditions do I need to set?

Thanks so much!

4% of what?
$100 of realized profit, floating profit, or just any profit?

 

[chrissezhi]

4% of what?
$100 of realized profit, floating profit, or just any profit?

Thank you for your response:

$100 of floating profit

For the drawdown this is what they state:

Max Daily Drawdown 5%:
This is the daily loss in percentage (%) from the starting equity (including all floating losses & profits)

Max Overall Drawdown 10%:
The capital of your account cannot at any given time drop below the specified percentage of the initial account value.

 

[Enivid]

$100 of floating profit

There is the 'Floating profit rises to currency units' condition for that.

Max Daily Drawdown 5%:
This is the daily loss in percentage (%) from the starting equity (including all floating losses & profits)

This won't work in the current version of the Account Protector.

Max Overall Drawdown 10%:
The capital of your account cannot at any given time drop below the specified percentage of the initial account value.

The easiest would probably to set the 'Equity <= currency units' condition with the value corresponding to that 10% drawdown. For example, if you had a $100,000 initial account value, set this to 90000.

 

[dioconnoi]

I have got to say, this is hands down the best Account managing EA on the internet and best things is... its free.

However I believe we need another Equity Trailing Stop that Locks in on profits!

its just the one thing missing in this EA and having gone through the comments I see a lot of people are desperately in need of this feature and are confusing the equity hidden trailing stop to mean the same thing.

I was confused myself until I tested it on demo and found out how the current equity trailing stop works which tbh is counterintuitve.

However, an Equity trailing Stop that Locks in on profits will be a game changer for this EA and I believe I speak the mind of other users on this

Might be a big ask but can you consider implementing this feature for this community?

 

[Enivid]

However, an Equity trailing Stop that Locks in on profits will be a game changer for this EA and I believe I speak the mind of other users on this

Perhaps, but what exactly is "Equity trailing Stop that Locks in on profits"?

 

[dioconnoi]

Perhaps, but what exactly is "Equity trailing Stop that Locks in on profits"?

it Gets you out of the trade if the equity crosses below specified amount (and some pips/points) after having crossed above.

its like trailing the profits and not giving it back

Its like trailing stops except we will be traiing profts for all trades

 

[Enivid]

it Gets you out of the trade if the equity crosses below specified amount (and some pips/points) after having crossed above.

its like trailing the profits and not giving it back

Its like trailing stops except we will be traiing profts for all trades

Then how is it different from the current equity trailing stop?

 

[ChelseaR]

I have got to say, this is hands down the best Account managing EA on the internet and best things is... its free.

However I believe we need another Equity Trailing Stop that Locks in on profits!

its just the one thing missing in this EA and having gone through the comments I see a lot of people are desperately in need of this feature and are confusing the equity hidden trailing stop to mean the same thing.

I was confused myself until I tested it on demo and found out how the current equity trailing stop works which tbh is counterintuitve.

However, an Equity trailing Stop that Locks in on profits will be a game changer for this EA and I believe I speak the mind of other users on this

Might be a big ask but can you consider implementing this feature for this community?

That’s a good suggestion! I totally get the confusion with the current setup. Hoping they add this feature, it would save us so much hassle.

 

[paytrader]

Thanks for a great EA.

How does the 'Daily profit/loss >= currency units' work?

Does it take into account floating profit/loss when it calculates daily profit?

For example, if this is set at 100.00 and I have 100.00 in closed trades, but -30.00 in floating, will it trigger an action as my closed trades are 100.00 ? Or will it know that once it closes all trades, my actual profit would only be 70.00 when the floating loss trades are closed as well?

Cheers

 

[Enivid]

Thanks for a great EA.

How does the 'Daily profit/loss >= currency units' work?

Does it take into account floating profit/loss when it calculates daily profit?

For example, if this is set at 100.00 and I have 100.00 in closed trades, but -30.00 in floating, will it trigger an action as my closed trades are 100.00 ? Or will it know that once it closes all trades, my actual profit would only be 70.00 when the floating loss trades are closed as well?

Cheers

By default the CountFloatingInDailyPL input parameter is true, so the floating profit is included in the daily P/L calculation. If you change that to false, it will only count the realized profit (without floating).